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Score: ALT-TREASURY-STOCK Choose exercise (1-5) Warner Corporation issued 100,000 shares of $1.00 par common stock, at par. The revenues this year were $350,000 and the
Score: ALT-TREASURY-STOCK Choose exercise (1-5) Warner Corporation issued 100,000 shares of $1.00 par common stock, at par. The revenues this year were $350,000 and the expenses were $290,000. At the end of the year, Warner reacquired 4,000 shares of Warner stock, at a cost of $2.50 per share. Construct a basic stockholders' equity section of the balance sheet. STOCKHOLDERS' EQUITY Common stock 0 Show shares issued times par per share. 0 0 Retained Earnings Common Stock + Retained Earnings Less Treasury Stock Total Stockholders' Equity 0 Add Common Stock + Retained Earnings Subtract Cost of Treasury Stock Final Stockholders' Equity 0
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